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  • FIRST POST
    • Confused1313
    • By Confused1313 13th Jan 18, 11:06 AM
    • 12Posts
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    Confused1313
    Ppi
    • #1
    • 13th Jan 18, 11:06 AM
    Ppi 13th Jan 18 at 11:06 AM
    Lenders obviously have a record of borrowers to whom they hid and sold these and other insurance policies.

    Why are refunds not automatic ?
Page 1
    • zx81
    • By zx81 13th Jan 18, 11:23 AM
    • 14,871 Posts
    • 15,698 Thanks
    zx81
    • #2
    • 13th Jan 18, 11:23 AM
    • #2
    • 13th Jan 18, 11:23 AM
    Because they don't know who believes they were mis sold.

    They also can't just cancel insurance policies for customers who may want or need the cover.
    • dunstonh
    • By dunstonh 13th Jan 18, 1:09 PM
    • 90,350 Posts
    • 57,134 Thanks
    dunstonh
    • #3
    • 13th Jan 18, 1:09 PM
    • #3
    • 13th Jan 18, 1:09 PM
    Lenders obviously have a record of borrowers to whom they hid and sold these and other insurance policies.
    In many cases they do not.

    Why are refunds not automatic ?
    Because not all of them were missold. Indeed, some distribution channels still see a very small minority of complaints upheld.

    PPI is still sold today. The problem wasn't the product (apart from in a few areas).
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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